Price close below 5min ema 60.
Strong resistance indicated at .74500
Good time to short AUDUSD.
By the way, fundamental is one big load of bull s h i t .
Oh boy⌠i guess fundamental not so poo after all.:36:
Resistance at .74500 breached. Audusd bullish.
Immediate support .74000
Heading towards mid December now so probably wont trade much if at all now until the New Year.
November was a reasonable month 6 wins 7 losses which resulted in + 229 pips overall and a little bit less than 2% account gain.
This also included a quite large loss(154 pips) which was not a 3 Ducks type trade so the month could have been better.
Nice account growth, thatâs what really matters
Greetings Trend Traders,
Iâd just be a bit cautious looking for buying set-ups on Aud.Usd at the moment, reckon thereâs a good chance buyers could get âsucked-in and blown-outâ if price does break above the ascending triangle formation ⌠a fake breakout!
Safe trading as always,
Andy
Captain Currency
Captain, u never told us why u think it will be a false breakout?
i might have been interested in a breakout candle. currently looks like a nice consolidaiton
A bit of a gut feeling Harpoon âŚ
I suppose traders whoâve been around the block a few times get these hunches every now and again. Also, we where leading up to the US Fed interest rate decision, didnât expect there would be many Aussie dollar buyer above the triangle during this period - not a lot of value IMO.
Experience helps, like other trading approaches, the 3 Ducks is best used simply as a set of guidelines in addition with your own discretion, market analysis and trading ideas.
Good trading for the rest of this week,
Andy
Captain Currency
thanks for explaining it to me. you got great intuition:36:. and yeah, your right, best approach is to use the Ducks as guidelines and then personalize it. and for the new people, probably try to get the 4h system working first (i would think)
thanks again ,
Hello there captain, a new guy here, just stumble this thread by chance.
I gonna test this with 0.03 lot. Hehe. Thank you very much.
Hello Duck Hunters,
Just had a scan of the charts and this is how I see it:
EURUSD, Ducks favour buying set-ups.
Thoughts: even though the current price is trading above the sma (bullish) on the 4 hour chart (1st Duck) Iâm thinking this pair will drift lower and flirt with the sma (4hr chart). I wouldnât even be surprised if price drops below the 4hr sma in the coming sessions.
For now Bulls need to get moving, a cross back above the 1.0556 area (highlighted below) would regain my confidence - a cross back above this 1.0556 area would also get our 2nd Duck (1 hr chart) lining-up in the correct direction for potential buys.
If you do go long EURUSD when/if all 3 Ducks line-up in the same direction, a potential area where you could bank some profits would be just before the 1.0620 resistance zone (circled above).
Trade well,
Andy
Captain Currency
another great prediction captain. you seem pretty good. wouldnât mind asking you ( or anyone else who really knows ) , why do you only recommend a small basket of currencies to watch over (a couple of majors and 2 cross pairs)? I know other cross pairs arenât as liquid, but for the 4h timeframe, isnât it good to watch other main cross pairs as well â means more opportunities to trade, more profits to make. And after a trade gets to BE, it doesnât matter if a new trade is correlated or not. Anyone know? i must be missing something.
Howdy DiamondBanker on welcome aboard!
I like your lot size idea, keeping with the theme âŚ
Have a great weekend,
[B]Andy
Captain Currency[/B]
Iâll let the other members answer that question too Harpoon.
Should be very interesting to hear how many pairs other Duck Hunters follow and WHY. No doubt youâll get many different opinions and reasons - is there a correct answer? Probably not, it will most likely boil down to a personal choice imo.
I follow this basket of 8 pairs, Iâm getting old you see (over the hill) and I find less is more these days âŚ
EURUSD I[/I]
GBPUSD I[/I]
AUDUSD I[/I]
USDCAD I[/I]
USDJPY I[/I]
EURJPY I[/I]
USDCHF I[/I]
EURGBP I[/I]
Well-balanced, youâll have spotted that thereâs a fairly well-balanced mix of major pairs, commodity pairs and cross pairs in my basket, just what I like as a trend trader! The Swissy (usdchf highly correlated with the eurusd) is probably the pair I trade the least but I do like to keep an eye on her.
Stats, below you can see a breakdown of the pairs Iâve traded in the last 1 month (some with more success than others), this might also give the long-time 3 Ducks followers a better idea too.
Good question BTW Harpoon,
Cheers and a good weekend to all.
Andy
Captain Currency
Decent start for the new year ,stopped out for 80 pips on Ausssie and 85 on NZD
As for number of pairs to watch a shorter list is just more convenient, I usually check my list over the weekend and narrow it down to about 3 that Iâll look to trade over the coming week.
â⌠wouldnât mind asking you ( or anyone else who really knows ) , why do you only recommend a small basket of currencies to watch over (a couple of majors and 2 cross pairs)? I know other cross pairs arenât as liquid, but for the 4h timeframe, isnât it good to watch other main cross pairs as well â means more opportunities to trade, more profits to make. And after a trade gets to BE, it doesnât matter if a new trade is correlated or not. Anyone know? i must be missing something.â
any other answers to the question from other duck hunters?
I just have to say Thank You for a simple to understand system!
I have been on a month long binge of learning, reading and absorbing everything Forex (well probably not everything!) And a couple hours ago I couldnât sleepâ
AnywhoâI had finally got the nerve up to open up the platform and test out your system. The first pair I looked at werenât all in a rowâŚso I looked at another pairâyep all 3 ducks in a row.
Had I been trading LIVEâI would have been shouting from the mountain tops!
Please double check my numbers as Iâm still new to all thisâŚ
thanks again
PipGrannyWannabe!
Yep you are a bit out 
It used to be most would calculate pips by using the last 2 or 3 numbers but as most now offer down to a fraction in numbers,itâs better to realise the last number is not a whole pip.
I donât think Iâve explained that too well,but basically your move was from 1.2275 to 1.2332 so 48 pips still a pretty good haul.
On a side note personally Iâm not touching GB atm as every speech or statement coming from the government sends it shooting off.
Not sure anyone advises only watching 4 pairs, I myself watch 8 but will whittle that down at the weekend to ones worth watching.Usually about 3 or 4 (though 6 for this week)
Some of the more obscure crosses will have a huge spread so arenât really worth considering unless you are planning on holding for months imo.
I donât worry so much about correlation as others as long as overall risk is managed Iâm not too bothered.One of the good things about this method is you get a lot of screen time which helps in getting a feel for what works on a particular pair.When you are scanning a huge amount of pairs maybe you would take less notice of this "feel"
However none of that is scientific some people will only trade 1 pair others will look at everything including indices,metals oil etc.
You really just have to find the number youâre comfortable with.
This is not correct.
If, for example, you have a [I]USD/JPY long trade[/I] at break-even, and then you put on a [I]EUR/JPY long trade,[/I] â and then the JPY takes off to the upside â youâre gonna lose money on both of your trades.
You may be [I]losing profits[/I] on the first trade, and [I]worsening your loss[/I] on the second trade, but losses are losses. Youâve just doubled-down on a [I]short JPY[/I] position, and taken a double loss.
.
Iâll get the hang of the math one of these days!
But for actually watching the trade unfold according to plan and the fib levels was pretty darn exciting. Too bad havenât had time since then to even look at everythingâŚ
all in good time
Thanks for all you do!